Hsbc Holdings PLC Has $1.89 Million Stake in Pitney Bowes Inc. $PBI

Hsbc Holdings PLC lowered its holdings in Pitney Bowes Inc. (NYSE:PBI) by 77.1% in the first quarter, Holdings Channel reports. The firm owned 171,684 shares of the technology company’s stock after selling 578,540 shares during the quarter. Hsbc Holdings PLC’s holdings in Pitney Bowes were worth $1,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in Pitney Bowes by 41.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,472 shares of the technology company’s stock worth $38,000 after buying an additional 1,015 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of Pitney Bowes by 2.4% in the 3rd quarter. Advisory Services Network LLC now owns 52,975 shares of the technology company’s stock valued at $604,000 after acquiring an additional 1,234 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Pitney Bowes by 12.5% in the 2nd quarter. Baird Financial Group Inc. now owns 13,164 shares of the technology company’s stock valued at $144,000 after acquiring an additional 1,459 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Pitney Bowes by 3.0% in the first quarter. HB Wealth Management LLC now owns 62,446 shares of the technology company’s stock valued at $690,000 after acquiring an additional 1,807 shares during the last quarter. Finally, Creative Planning increased its position in shares of Pitney Bowes by 13.5% in the third quarter. Creative Planning now owns 18,402 shares of the technology company’s stock valued at $210,000 after acquiring an additional 2,188 shares during the last quarter. 67.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Pitney Bowes news, CEO Kurt James Wolf sold 316,280 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $17.10, for a total value of $5,408,388.00. Following the transaction, the chief executive officer directly owned 217,930 shares of the company’s stock, valued at $3,726,603. This represents a 59.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah Pfeiffer sold 18,750 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $16.06, for a total transaction of $301,125.00. Following the sale, the executive vice president owned 97,828 shares of the company’s stock, valued at $1,571,117.68. This trade represents a 16.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,349,130 shares of company stock valued at $53,285,535 in the last ninety days. 6.50% of the stock is currently owned by insiders.

Pitney Bowes Trading Down 0.1%

PBI opened at $17.86 on Monday. The stock’s fifty day simple moving average is $17.09 and its 200 day simple moving average is $13.53. Pitney Bowes Inc. has a 1-year low of $8.95 and a 1-year high of $18.77. The stock has a market cap of $2.42 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 0.80 and a beta of 1.62.

Pitney Bowes (NYSE:PBI) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Pitney Bowes had a net margin of 8.92% and a negative return on equity of 33.41%. The firm had revenue of $477.41 million during the quarter, compared to analysts’ expectations of $471.83 million. During the same period in the previous year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Equities analysts forecast that Pitney Bowes Inc. will post 1.62 earnings per share for the current year.

Pitney Bowes Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Monday, May 18th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Monday, May 18th. Pitney Bowes’s dividend payout ratio (DPR) is currently 38.83%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America upgraded Pitney Bowes from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $9.50 to $16.50 in a report on Monday, May 11th. The Goldman Sachs Group set a $15.20 price target on Pitney Bowes in a research note on Friday, May 8th. Citizens Jmp boosted their price target on Pitney Bowes from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Friday, June 5th. Wall Street Zen upgraded Pitney Bowes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Finally, Zacks Research downgraded Pitney Bowes from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.43.

About Pitney Bowes

Pitney Bowes Inc (NYSE: PBI) is an American technology company that specializes in shipping, mailing, and e-commerce solutions. Founded in 1920 by Walter Bowes and Arthur Pitney, the company pioneered postage meter technology and has since evolved to offer a broad portfolio of hardware, software, and services designed to streamline physical and digital communications. Headquartered in Stamford, Connecticut, Pitney Bowes leverages a century of expertise to serve enterprises, small businesses, and government agencies around the globe.

The company’s core offerings span mailing and shipping equipment, including postage meters, folder inserters, and address verification systems, alongside integrated software platforms for customer information management, data analytics, and location intelligence.